Russia may face shortage of gasoline if refiners will not be provided new benefits, Rosneft CEO Igor Sechin said.
According to him, if additional benefits are not introduced, Russia could face a shortage of gasoline in the domestic market of 5 million tons per year by 2017 if current consumption continues. It could result in a complete of refinery modernization projects of major oil companies or their significant delay, Sechin said.
The Rosneft CEO proposes introducing interest rate subsidies on loans for investments in refinery modernization projects for those companies who continue these projects. He also called for the indexation of companies' railway tariffs to be abandoned. Another suggestion is the issuance of new licenses to develop oil and gas fields.
The president of the oil company also supports increasing the differential between the rates of excise duties on motor fuel of different classes.
Sechin's proposals may be discussed in October.
